Weekly Ocean Operations Update: Asia to Europe, US and Australia 14/06/24

General overview: The market remains robust. MSC has announced a new service, operating on a route from NGB to Liverpool and other European ports, with vessel sizes around 8,000-9,000 TEUs. Rates for this service, which starts in the first week of July, are yet to be confirmed. HPL will resume its CGX service from mid-June, with vessels of 3,500-4,000 TEUs traveling from Yantian to Antwerp, Rotterdam, and West Africa.

With the market staying strong, it is crucial to closely monitor capacity, considering new services and potential unexpected blank sailings. BCO volume is expected to increase in the third quarter.

Port congestion continues to be an issue. Singapore’s port, already one of the busiest in the world, is facing a sustained period of congestion as vessel diversions to avoid the Red Sea are pushing more container ships to this Asian maritime hub. Singapore’s yard utilisation rates rose to nearly 90% last month compared with optimum levels of around 70%, according to Drewry Maritime Services. Ship bunching and congestion is also notable in Shanghai, Qingdao and Shenzhen.

Equipment remains tight, particularly in Ningbo; please see the equipment spreadsheet linked below for a detailed breakdown.

Overview by trade lane

FEWB summary:

Rate and capacity update as of June 14, 2024:

Oceania summary:

Rate and capacity update as of June 14, 2024:

Transpacific summary:

Rate and capacity update as of June 14, 2024:

Equipment update by carrier

Correct at time of publication on June 14, 2024:

Click here to download equipment spreadsheet

Asia port updates

Market intel: EU

• EU blank sailing ex Far East – click here
• EU blank sailing ex ISC – click here
• MSC will, on 1 July, launch another standalone Asia-Europe loop; the new loop's full rotation will serve Shanghai, Ningbo, Yantian, Cai Mep, Liverpool, Rotterdam, Antwerp, Hamburg, London-Gateway, Singapore, Shanghai. (Source: Alphaliner)
• CMA CGM will, between the end of June and early September, send seven ships with an average capacity of 7,000 teu as extra sailers from Asia to North Europe and the Mediterranean. (Source: Alphaliner)

Market intel: Oceania

• Australia blank sailing – click here
• Due to ongoing toe wall construction at Charleston Wando terminal, Maersk will replace Charleston with Savannah in the rotation of its “OC1” service, as well as to remove Cristobal to avoid congestions, the first vessel MAERSK BUTON 419N call at Savannah on 20th Jun 2024. (Source: Alphaliner)

Market intel: USA

• TP blank sailing – click here
• Canadian union reaches tentative agreement with government for border agents. The Union representing more than 9,000 workers at the Canada Border Services Agency has reached a tentative agreement with the Canadian government, avoiding a strike. (Source: cbsnews)
• Cosco and its subsidiary, OOCL, has launched a China Pacific north-west Vancouver loop (CPV) that will turn in six weeks, with six 4,250-7,100 teu vessels, calling at Ningbo, Shanghai, Vancouver, Seattle and Lianyungang. (Source: Cosco)
• MSC announced the reinstatement of its Mustang service as of week 28 for departure in Asia. The Mustang service will provide increased capacity and faster transit times between the East Asia and U.S. West Coast. The full port rotation beginning with the sailing of the vessel MSC LELLA voyage UV428A with 16000teus capacity. (Source: MSC)